December 17, 2015 Mr. Chad C. Hallett Treasurer and Principal Financial Officer SSGA Funds State Street Financial Center One Lincoln Street Boston, Massachusetts 02111 RE: SSGA Funds Waiver and Reimbursement Agreement Dear Mr. Hallett:
Ex.) 28 (d)(7)
December 17, 2015
Xx. Xxxx X. Xxxxxxx
Treasurer and Principal Financial Officer
State Street Financial Center
Xxx Xxxxxxx Xxxxxx
Boston, Massachusetts 02111
RE: SSGA Funds Waiver and Reimbursement Agreement
Dear Xx. Xxxxxxx:
SSGA Funds Management, Inc. (“SSGA FM”), as investment adviser to each series of SSGA Funds (each a “Fund”), agrees until December 31, 2016 to (i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse a Fund (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and distribution, shareholder servicing and sub-transfer agency fees, as measured on an annualized basis) to the level of the expense limitation for each Fund in the amounts shown in the following table:
| Fund |
Expense Limitation | |
| SSGA Clarion Real Estate Fund |
0.75% | |
| SSGA Disciplined Emerging Markets Equity Fund |
1.00% | |
| SSGA International Stock Selection Fund |
0.75% | |
| SSGA Dynamic Small Cap Fund |
0.85% | |
| SSGA Enhanced Small Cap Fund |
0.50% | |
| SSGA High Yield Bond Fund |
0.50% | |
| SSGA S&P 500 Index Fund |
0.096% | |
| SSGA Money Market Fund |
0.32% | |
| SSGA U.S. Government Money Market Fund |
0.32% | |
| SSGA U.S. Treasury Money Market Fund |
0.16% | |
| SSGA Prime Money Market Fund |
0.15% |
In addition, SSGA FM agrees until December 31, 2016 to the following management fee waivers on an annual basis for certain Funds in the amounts shown in the following table:
| Fund |
Management Fee Waiver | |
| SSGA U.S. Treasury Money Market Fund |
0.05% of 0.15% management fee | |
| SSGA Prime Money Market Fund |
0.05% of 0.15% management fee |
Prior to December 31, 2016 these agreements may not be terminated with respect to a Fund without the prior approval of the Board of Trustees of SSGA Funds. These agreements may, at SSGA FM’s option, be continued after December 31, 2016.
If this arrangement is acceptable to you, please sign below to indicate your acceptance and agreement and return a copy of this letter to me.
Ex.) 28 (d)(7)
| Sincerely, |
| SSGA FUNDS MANAGEMENT, INC. |
| /s/ Xxxxx X. Xxxxxxx |
| By: |
| Xxxxx X. Xxxxxxx, President |
| Accepted and Agreed: |
| on behalf of the Funds named above |
| /s/ Xxxx X. Xxxxxxx |
| By: |
| Xxxx X. Xxxxxxx |
| Treasurer and Principal Financial Officer |
